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$18 Million Returned to Mainers in FY'17

Tue, 27 Jun 2017 15:33:47 EDT

AUGUSTA - Treasury has returned more than $18.1 million in unclaimed property to Mainers in FY 2017. This is a new record, surpassing the old record of $16.1 million in FY 2016. That's an increase of 12.5% in just one year.

State Treasurer Terry Hayes credits her staff, Legislators, and staff at the Legislature for this resounding success. "The combination of effort, across agencies and across the state, has proven very successful. This is our third consecutive record-breaking year - very good news for people throughout the state who have been reunited with their money."

Every year, incorrect addresses, misspelled names and dormant accounts result in financial property being submitted to Treasury by Maine businesses. More than $25 million was submitted in FY'17.

At present, the Treasurer's unclaimed property database includes more than $232 million.

Fortunately, these properties can be claimed by the rightful owners through the Treasurer's office at any time.

The fastest, most direct way you can find out if you have unclaimed property is by visiting Treasury's website at: www.maine.gov/upsearch. You can search for your name, family members, and friends. If you have unclaimed property in the database, you can file a claim right from the website. Claims are processed in the order they are received. Treasury's goal is to get the money back in the hands of the rightful owners as quickly as possible.

"Breaking through $18 million in returned funds has been a major accomplishment. We have our sights set on beating that total in FY'18," said Hayes, "You can help us by searching your name today."



This project shows how bonds pay dividends for Maine

Mon, 12 Jun 2017 15:48:46 EDT

bangordailynews.com/2017/06/11/opinion/contributors/this-project-shows-how-bonds-pay-dividends-for-maine">http://bangordailynews.com/2017/06/11/opinion/contributors/this-project-shows-how-bonds-pay-dividends-for-maine">bangordailynews.com/2017/06/11/opinion/contributors/this-project-shows-how-bonds-pay-dividends-for-maine



State of Maine Successfully Prices General Obligation Bonds

Mon, 12 Jun 2017 15:48:52 EDT

Augusta, ME - State Treasurer Terry Hayes today announced that the state completed its general obligation bond pricing that will fund $114,675,000 of projects previously approved by Maine voters. The projects include major transportation infrastructure, stream crossings and culvert upgrades, land acquisitions, armory upgrades, and improvements at the Maine Community College system.

The online pricing competition received bids from eleven underwriters, all below the projected rate of 2.20%. The total borrowing costs for these bonds will be 1.54% over the ten year bonding period, a tribute to Maine's AA rating.

"The administration, the legislature, and all of us can be proud of the state's continually improving financial position. The number of bidders and the results demonstrate strong investor confidence in Maine's bonds, even with the slight uncertainty stemming from new issue price rules that took effect today," said Treasurer Hayes.

The state, along with its bond counsel Locke Lord and its financial advisor Hilltop Securities, accepted a bid from J.P. Morgan for one series of bonds and a bid from Morgan Stanley for the second series of bonds. The closing for these sales will take place later this month, with project funding occurring before the end of the fiscal year.



Treasurer Hayes Warns of Suspicious, Unofficial Unclaimed Property Websites or Notices

Mon, 12 Jun 2017 15:48:59 EDT

**State Treasurer Seeking Rightful Owners of Property, Urges Caution Against Suspicious Websites**

AUGUSTA - New scams, promising to return unclaimed property for a fee, are targeting Maine residents through unofficial websites and notices in the mail.

State Treasurer Terry Hayes is warning residents to be wary of these websites and to be cautious of mailings or emails stating that you have unclaimed property with the State of Maine. "Each year, new schemes are created that attempt to take advantage of Mainer's familiarity with our Unclaimed Property Program. While there are many differences between our program and these schemes, the easiest way to spot a scheme is if it asks for payment information." says Treasurer Hayes.

The Office of the State Treasurer does maintain a list of unclaimed property, and receives new properties each year. However, there is no fee for you to review the list, or to claim your property. To ensure that you are obtaining the correct information for unclaimed property with the State of Maine, go to the official website https://www.maine.gov/upsearch target="_blank"> maine.gov/upsearch or call the Treasurer's Office at (207) 624-7470. To search for unclaimed property in other states, visit https://www.missingmoney.com/main/index.cfm target="_blank"> missingmoney.com a nationally recognized database of state unclaimed property programs.

Unclaimed Property consists of cash and other financial assets that are considered lost or abandoned when an owner cannot be located after a specified period of time. It includes, among other items, checking accounts, certificates of deposit, over payments, gift certificates, life insurance policies, unpaid wages, uncashed checks, death benefits, dividends, insurance payments, refunds, savings accounts, stocks and contents of safe deposit boxes. Unclaimed Property does not include real estate, animals or vehicles. During the period from July 2016 through March 2017, over 17,000 Mainers reclaimed more than $13 million of lost funds.



Treasurer Hayes Announces $16.1 Million in Unclaimed Property Returned to Mainers

Mon, 12 Jun 2017 15:49:05 EDT

##State Treasurer Holds Financial Assets on Behalf of Mainers, Finds Rightful Owners AUGUSTA - The Office of the State Treasurer, today, announced the return of $16,117,529 of unclaimed property to Mainers during Fiscal Year 2016. This property consists of financial assets that have gone unclaimed by their owners.

"FY'16 was a record year for unclaimed property claims," said Maine Treasurer Terry Hayes. "Over the last 12 months, we have reunited Mainers with $16.1 million in unclaimed property that rightfully belongs to them. This total includes 107,978 individual properties. Mainers should check our website to see if we are holding property that belongs to them, or someone they know," Hayes added. Mainers can search for their lost assets on the Treasurer's Website: http://www.maine.gov/upsearch.

The record amount returned in fiscal year 2016 can be directly attributed to Treasury's collaboration with members of the Maine Legislature. State Representatives and State Senators have been reaching out to constituents to encourage them to search Treasury's online database. "Our elected officials know their neighbors and have played a major role in helping Treasury return record sums to Mainers in the past two fiscal years," Hayes noted.

Unclaimed property consists of cash and other financial assets that are considered lost or abandoned when an owner cannot be located after a specified period of time. It includes, among other items, checking accounts, certificates of deposit, over payments, gift certificates, paid-up life insurance policies, unpaid wages, uncashed checks, death benefits, dividends, insurance payments, refunds, savings accounts, stocks, and contents of safe deposit boxes. Unclaimed property does not include real estate, animals, or vehicles.

The State Treasurer may be holding unclaimed property which belongs to you. Millions of dollars are turned over each year to the Treasurer of Maine by businesses and organizations that have been unable to locate the owners. If your name is on the list, you can file your claim electronically at http://www.maine.gov/upsearch. There is no fee charged to process your claim. Also, you do not need to pay anyone to help you make your claim. Link to Search Unclaimed Property List: http://www.maine.gov/upsearch

Link to Uniform Unclaimed Property Law: http://www.mainelegislature.org/legis/statutes/33/title33ch41sec0.html

To reach Unclaimed Property by telephone: (207) 624-7470